05:33 PM EDT, 09/05/2024 (MT Newswires) -- Kits Eyecare ( KTYCF ) on Thursday said shareholder Roger Hardy and companies he controls sold an underwriting syndicate one-million of the company's shares in a $10.15-million secondary offering.

The shares were priced at $10.15 each and the underwriters can buy up to an additional 0.15-million shares as on over-allotment option.

KITS will not receive any proceeds from the offering.

In a separate transaction expected to close concurrent with the offering, the underwriters agreed to purchase, on a bought-deal basis, 225,000 shares from the spouse of Sabrina Liak, the company's former president.

Kits shares closed up $0.02 to $11.32 on the Toronto Stock Exchange.